My paper titled ‘Digital Business in Healthcare: Will It Survive or Succumb?’ published in Feb 2019 stands answered today. Digital Business in Healthcare has not only survived but shown astonishing growth. According to Frost & Sullivan the e_Pharmacy market in India is estimated to grow at an exponential CAGR of 63% and reach $3.6bn by 2022. We now have big players like Amazon, Reliance (NetMed), Apollo, PharmEasy-Medlife and more recently Tata Group in this space. Prashant Tandon Co-Founder & CEO of 1MG has played a leading role in winning the trust from consumers. Way back in 2015, he created a digital platform with a mobile app to provide authentic information about medicines, their substitutes, prices, side effects and diseases. His mobile app went viral and drew organic traffic. As an entrepreneur he identified the pain points of patients who needed accessibility, affordability, authenticity and availability of healthcare at home. Thus keeping the consumer or patient at the centre he offered door step delivery of medicines, lab tests and telemedicine. He did face challenges from regulators and brick and mortar pharmacies but Covid situation declared his services as essential and this accelerated the digital healthcare ecosystem. Prashant Tandon is delighted to join hands with Tata Group as they will buy majority stake in 1MG.
yes. Good tata has realized the importance of e-commerce in medicines
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